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Inflation in Germany in June expectedly accelerated to 6.8%


July, 11 2023
watermark Economic news

According to the final data of the German Federal Statistical Office (Destatis), consumer prices, harmonized according to EU standards, increased by 6.8% in annual terms in June. 


This means an acceleration in inflation compared to the previous month, when it was 6.3%. These final data coincided with the preliminary assessment and forecasts of experts.


On a monthly basis, consumer prices in the country rose by 0.4% after a 0.2% decline in May. 


Inflation by German standards also accelerated, amounting to 6.4% year-on-year in June, compared with 6.1% in May. Energy prices in Germany increased by 3%, the cost of food increased by 13.7%, and services rose by 5.3%.


In monthly terms, this indicator increased by 0.3% compared to May, when it decreased by 0.1%. Preliminary data on the dynamics of inflation in Germany for July will be published on July 28.


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